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Just noticed Hut 8 has been on an absolute tear lately. Stock jumped from like $3.65 back in 2023 to $57 now - that's over 1,200% in a couple years. What's wild is the company actually pivoted hard into AI data centers instead of just staying pure Bitcoin mining, and it's clearly paying off.
Looking at the monthly chart, there's a pretty textbook cup and handle formation developing here. The handle part is basically complete, and if it breaks out properly, we could see it run toward $82-83. That would be another 40% or so from current levels. The catch though is that cup and handle patterns on monthly timeframes can take forever to play out - we're talking months or even years potentially.
The near-term catalyst is earnings dropping this week. Street's expecting revenue around $95 million, which would be up 200% year-over-year. Full year guidance is pointing to over $425 million in revenue thanks to the Anthropic and Google deals. Most analysts seem pretty bullish - average price target is sitting at $64, with some of the more aggressive calls at $75-80.
The cup and handle setup combined with these growth numbers coming up could be interesting to watch. Not financial advice, just observing what's on the charts and in the fundamentals right now.